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Dynamic R&D Choice and the Impact of the Firm's Financial Strength
Peters, Bettina - 2016
This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from...
Persistent link: https://www.econbiz.de/10012997893
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Understanding Long-Run Price Dispersion
Crucini, Mario J. - 2013
We use a unique panel of retail prices spanning 123 cities in 79 countries from 1990 to 2005, to uncover six novel properties of long-run international price dispersion. First, at the PPP level, virtually all (91.6%) of price dispersion is attributed to service-sector wages, consistent with a...
Persistent link: https://www.econbiz.de/10013086670
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Estimating Social Preferences and Gift Exchange at Work
DellaVigna, Stefano - 2016
We design a model-based field experiment to estimate the nature and magnitude of workers' social preferences towards their employers. We hire 446 workers for a one-time task. Within worker, we vary (i) piece rates; (ii) whether the work has payoffs only for the worker, or also for the employer;...
Persistent link: https://www.econbiz.de/10012997885
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Carbon Taxes, Path Dependency and Directed Technical Change : Evidence from the Auto Industry
Aghion, Philippe - 2014
innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and hybrid) patents across 80 … tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers … and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow …
Persistent link: https://www.econbiz.de/10013064941
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Fire in the Belly? Employee Motives and Innovative Performance in Startups Versus Established Firms
Sauermann, Henry - 2017
concerned with the supply of human capital to entrepreneurship and innovation …
Persistent link: https://www.econbiz.de/10012964403
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Innovative Originality, Profitability, and Stock Returns
Hirshleifer, David A. - 2017
We propose that innovative originality (InnOrig) is a valuable organizational resource, and that owing to limited investor attention and skepticism of complexity, firms with greater InnOrig are undervalued. We find that firms' InnOrig strongly predicts higher, more persistent, and less volatile...
Persistent link: https://www.econbiz.de/10012955455
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What is a Patent Worth? Evidence from the U.S. Patent “Lottery”
Farre-Mensa, Joan - 2017
quality, follow-on innovation. Winning a first patent boosts a startup's subsequent growth and innovation by facilitating …
Persistent link: https://www.econbiz.de/10012960171
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Accounting for Innovation in Consumer Digital Services : It Still Matters
Byrne, David M. - 2019
This paper develops a framework for measuring digital services in the face of ongoing innovations in the delivery of content to consumers. We capture what Brynjolfsson and Saunders (2009) call “free goods” as the capital services generated by connected consumers' stocks of IT digital goods,...
Persistent link: https://www.econbiz.de/10012867450
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The Spatial Mismatch between Innovation and Joblessness
Glaeser, Edward L. - 2019
's most persistent pockets of joblessness. Could a more even spatial distribution of innovation reduce American joblessness …? Could Federal policies disperse innovation without significant costs? If research funding is already maximizing knowledge … production, then spatial reallocation of that funding will reduce America's overall innovation unless that reallocation comes …
Persistent link: https://www.econbiz.de/10012869066
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Fracking, Drilling, and Asset Pricing : Estimating the Economic Benefits of the Shale Revolution
Gilje, Erik - 2016
We quantify the effect of a significant technological innovation, shale oil development, on asset prices. Using stock …
Persistent link: https://www.econbiz.de/10012977630